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In my experience, they're not to be trusted.
In this market determine the Edmunds trade-in value and then for a CPO that's about what you should pay. Edmunds and KBB are pretty far behind the curve right now.
Thanks for the help. I guess markups on used cars are greater than I thought. I plugged in the '06 330i I mentioned earlier into Edmunds appraisal tool to figure out the trade-in value. The dealer listed the car at $29,991, but Edmunds says the trade-in value is closer to $22,754 (even for regional adjustments). That's a markup of over $7K - could the dealer be marking up that much?? It looks like I should be aiming for a selling price then around $23,800 (give the dealer a little profit. )
~AJ
Yes, they mark up cars like crazy.
Sorry, I've been swamped at work, but finally saw your message.
No, I didn't buy the car. They refused to budge on price so I walked (or in my case, hung up since I physically didn't go down there).
In response to bluedot's response to you, I will say though that there are some costs involved in getting the vehicle ready for sale. For example, the car I'm looking at is at 20K miles and there are new run flats on it. I assume the dealer had to put those on (or someone other than the original owner paid for it as it came off lease). So you do need to look at the car you are interested in and make adjustments to the price depending on condition -- new tires are a huge plus as those run flats are expensive.
Good luck.
-ryan
However my experience there was nothing but positive. I submitted my request to all the dealers in the area specifically stating what I was looking for. The Encinitas sales person was one of the few that quickly responded with an actual quote. After coming in to look at the car we wrapped up the deal... no games, no hassle. One of the best car purchase experiences I've had.
Several other dealers in the area just tried to get me to come in without providing quotes. Long Beach BMW was the worst. My wife called to get a quote on a 335 they had in stock and the sales person responded back "We're not in the business of providing quotes, we're in the business of making people happy" Funny, getting a quote would have made us happy.
I guess it all comes down to the sales person you get.
I reread it and it may have sounded like I am disagreeing with bluedot. He is spot-on. Most of the CPOs are acquired through auction, and the markup is high. Just wanted to note that costs of transporting the car, getting it ready for sale, etc. are not included in the auction price.
Good luck and let me know if you fare better than I.
-ryan
Flipside, for some reason they did the full inspection on my car but didn't change the oil, even though the car was only 2k away from an oil change. How freaking odd is that?
So you take the Manheim + CPO cost + recondition + transport + auction fees and then tack on a few extra bucks for profit is my calculation.
Your story is funny. I guess they gamble that maybe you won't bring it in on time saving them $$$. (my wife is one of those people that can remember what I ordered on our first date years ago, but can't remember to check the odometer and bring the car in for service)
-ryan
Automatic transmission
Premium Package
Cold Weather
Navigation
Ipod and USB adapter
Monaco Blue/Beige Dakota Leathe
List Price: $45150, the dealer is offering : $41950 (invoice)+$500=$42450
Is it a good price? This month has 0.9%finance + first two monthly paid by BMW dealer (maximum to $1500)
Thanks,
Wendy
Dealer makes money by marking up the acquisition fee and the money factor and adding profit. Make sure you demand the " buy rate" and the $ 725 bank acquisition fee which is the mandatory unmarked up fee.
Plus, the Euro is up 5% against the dollar, just in the last week... They probably have some sort of currency hedging strategy.. but, sometimes they come out ahead, and sometimes they lose.. they can't base prices strictly on what the Euro is doing over the short-term..
regards,
kyfdx
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so the dealership showed me the actual CPO cost on this car, and it's $1600. I also confirmed the car was bought from this dealership and returned to the same dealership 3 yrs later - a trade-in after the lease ended. so based on edmunds giving me a trade-in value of $23K, plus the $1600 for CPO, I figure the dealer costs on this car are around $25K. I got him down to $27.5K, but he won't budge any further. So, I'll sit tight, and wait to see if the car is still around next Tuesday at the end of the month to try to get a better offer....
aaah, the fun of negotiating!
-AJ
The TMV "trade-in" value is also suspect because the car generally wholesales for less than the trade-in TMV price. They may say they are giving a higher trade-in value, but when netted against the profit of selling the new vehicle to the consumer, who knows what the "actual" trade-in value provided was...which is why it is much better to negotiate the trade-in separate. So to make a long story short, the TMV price may be slightly inflated but a good guide nonetheless.
I like your strategy. Do keep in mind though the tax rate does bump up by 1% in CA on April 1, so you may have some competition end of month.
Good luck!
On the street? Round about $7500. Could vary slightly depending on where you live.
trade-in value is in the $6k neighborhood.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Before I purchase a used 335i convertible, I want to do my research to get a fair deal. I have been looking at Edmunds and bimmerfest. This is my first post to this forum.
Here is the used 335i convertible info:
2008 335i convertible
Asking $41,900
25,000 miles
Steptronic auto
Sport package
Premium package
Cold weather package
Navigation
Logic7
HID xenon headlights
Parking distance
Satellite radio
Active steering
Paddle shifters
One owner
This is not from a BMW dealership. Based on carfax, they bought it from auction. No service paper work. Asking price is pretty close to Edmunds TMV trade in. I couldn't find the Kelly blue book 335i convertible price. I also looked for 2008 left over model. Not too many left and I don't want to take the hit of 20% depreciation right off the parking lot.
I am going to test drive a new one at a dealer today and then test drive this used one to compare. I will also take the used car to my mechanic to check it out.
I am thinking to offer around $39K. Is that a reasonable good deal? Or should I look for new car deal instead? A dealer is offering $12,000 off MSRP for new 2009 M3 convertible. But that is outside what I want to pay.
Thanks for your comment and suggestion!
The Mercedes dealer was even worse.
As an aside, if she's interested in Audi, the Audi dealer was fantastic. Even though I didn't buy my TT there, they picked it up at my office for service and left me a Porsche or high end Audi as a loaner.
the best offer I have got so far is about $600 above invoice, i am trying to push for $200 above invoice. I am leasing a 325i currently and have just one more payment to go; trying to see if it makes sense to sign the deal now (if the offer is good)!
Is there "trunk money" available if you are getting out of a Mini lease into a 2009 335ci? I ordered n 09 335ci with a list of $47,000. It is being capped at $44,950 with a lease money factor of 0022, for a 36 month lease, 10,000 miles per year. Any advice would be appreciated.
2008 335xi 6 speed
6500 miles
Cold Weather Package
Premium Package
Sport Package (with the 17” wheels and all-season tires)
Comfort Access
Park Distance Control (rear)
Navigation System
Satellite (Sirius) Radio
In service date - 11/7/09
BMW CPO - 6 years 100k miles from above date
Price before taxes - $ 40,000
Any opinions on the deal would be welcome.
Thanks in advance.
currently 2009 BMW has $3,000 marketing support till 5/31/2009 for 335i, 335d, 335xi ! and $1,500 finance cash bonus!
Thanks for any info on this!
I would love a 335i coupe, but living in NYC I think the jump from the 328i coupe to the 335i is a waste of money. I would be looking for leather, premium package, heated seats (or cold weather package), upgraded sound system, xenon headlamps, & comfort access. (I may be able to live without the upgraded sound system)
Could anyone tell me how much I should be expecting to pay a month in a guess-estimate range on a 3 year lease/10k miles a year?
Also what do you think I should do with my 2002 325i with about 46,000 miles on it? Should I trade it in, or try to sell it privately?
Purchase & lease or are they pushing 1 more?
A 335i, bought from an auction, with no paper work. My instinct says keep looking. How do you know the car doesn't really have 40k, 50k, 60k miles on it & they turned it back? I'm not familiar with cars bought at auctions, but I guess you may want to verify he holds the true title to the car also.
Options are:
Steptronic Automatic Transmission
17" V-spoke wheels
Heated front seats
Nav system
HD radio
Satellie radio
Premium hi-fi Logic 7 stereo system
Ipod and USB adapter
Premium package
Edmunds calculates invoice price to be $40,880 and I offered $41,280 and I intend to negotiate up from the invoice price and am comfortable with that.
I could use help with the financing numbers in regards to the MF and residual
amounts.
They are offering $43,300
MF = .00145
Residual is 64% on 24 month lease and 57% on 36 month lease
$1000 down
Lease payments are $795 on 24 month and $649 on 36 month
15k miles per year
Is this a good deal even if I take their price, which I do not intend to do. Any feedback would be appreciated.
Trying to compare prices on the other side of the country might be a stretch....
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